The Economic and Financial Crimes Commission (EFCC) has taken Precious Uzondu to court for allegedly refusing to accept the naira as payment.
The case was heard on February 5, 2025, before Justice A.O. Owoeye at the Federal High Court in Ikoyi, Lagos.
Uzondu was accused of rejecting Nigeria’s currency on December 10, 2024, in Lagos.
Instead, he reportedly accepted $5,700 for a Carter diamond bracelet, violating the Central Bank of Nigeria Act, 2007.
When the charges were read, Uzondu pleaded not guilty.
The prosecution requested a trial date and asked for his detention. However, the defense lawyer sought bail.
After reviewing both sides, the judge granted Uzondu bail at N5 million.
He must provide two sureties who own land in Lagos and meet other conditions.
Until bail is met, he will remain in Ikoyi Correctional Centre. The trial is set to begin on April 8, 2025.
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